NPORT-EX 2 PIPDQ00EQPt.htm
EQUITY PORTFOLIO
SCHEDULE OF INVESTMENTS as of September 30, 2020 (unaudited)
      Shares   Value
Long-Term Investments — 97.9%
Common Stocks
Aerospace & Defense — 1.3%
Northrop Grumman Corp.
92,110   $29,059,784
Raytheon Technologies Corp.
601,101   34,587,352
            63,647,136
Air Freight & Logistics — 0.4%
FedEx Corp.
84,423   21,234,073
Automobiles — 5.3%
General Motors Co.
1,134,368   33,565,949
Tesla, Inc.*
545,357   233,963,607
            267,529,556
Banks — 3.9%
Bank of America Corp.
1,646,258   39,658,355
Citigroup, Inc.
640,434   27,609,110
JPMorgan Chase & Co.
648,306   62,412,419
PNC Financial Services Group, Inc. (The)
313,584   34,466,017
Truist Financial Corp.
830,280   31,592,154
            195,738,055
Beverages — 0.7%
PepsiCo, Inc.
246,730   34,196,778
Biotechnology — 0.9%
Sarepta Therapeutics, Inc.*
103,803   14,577,055
Vertex Pharmaceuticals, Inc.*
115,089   31,318,019
            45,895,074
Building Products — 0.9%
Johnson Controls International PLC
1,122,321   45,846,813
Capital Markets — 1.8%
Goldman Sachs Group, Inc. (The)
331,331   66,587,591
S&P Global, Inc.
74,412   26,832,967
            93,420,558
Chemicals — 2.1%
FMC Corp.
402,333   42,611,088
Linde PLC (United Kingdom)
279,016   66,442,080
            109,053,168
Consumer Finance — 0.9%
Capital One Financial Corp.
375,691   26,997,155
SLM Corp.
2,482,612   20,084,331
            47,081,486
Diversified Telecommunication Services — 1.1%
Verizon Communications, Inc.
914,796   54,421,214
Electric Utilities — 1.1%
American Electric Power Co., Inc.
715,917   58,511,896
Entertainment — 3.4%
Netflix, Inc.*
188,228   94,119,647
Spotify Technology SA*
124,966   30,313,003
Walt Disney Co. (The)
389,606   48,342,312
            172,774,962
      Shares   Value
Common Stocks (continued)
Equity Real Estate Investment Trusts (REITs) — 1.1%
American Tower Corp.
225,184   $54,433,728
Food & Staples Retailing — 2.2%
Costco Wholesale Corp.
145,916   51,800,180
Walmart, Inc.
428,409   59,938,703
            111,738,883
Food Products — 1.1%
Mondelez International, Inc. (Class A Stock)
931,374   53,507,436
Health Care Equipment & Supplies — 1.8%
Danaher Corp.
136,202   29,328,377
DexCom, Inc.*
76,624   31,586,712
Zimmer Biomet Holdings, Inc.
242,438   33,005,509
            93,920,598
Health Care Providers & Services — 1.2%
Cigna Corp.
157,552   26,690,884
Laboratory Corp. of America Holdings*
172,204   32,420,847
            59,111,731
Health Care Technology — 0.7%
Teladoc Health, Inc.*(a)
157,092   34,440,850
Hotels, Restaurants & Leisure — 0.7%
McDonald’s Corp.
152,795   33,536,975
Household Durables — 0.8%
D.R. Horton, Inc.
543,350   41,093,561
Household Products — 0.6%
Procter & Gamble Co. (The)
239,033   33,223,197
Insurance — 2.1%
Chubb Ltd.
362,217   42,060,638
Marsh & McLennan Cos., Inc.
286,259   32,833,907
MetLife, Inc.
851,324   31,643,713
            106,538,258
Interactive Media & Services — 7.2%
Alphabet, Inc. (Class A Stock)*
71,105   104,211,488
Alphabet, Inc. (Class C Stock)*
34,632   50,895,187
Facebook, Inc. (Class A Stock)*
469,054   122,845,243
Match Group, Inc.*
469,105   51,906,468
Tencent Holdings Ltd. (China)
493,887   33,300,716
            363,159,102
Internet & Direct Marketing Retail — 6.1%
Amazon.com, Inc.*
71,601   225,452,217
Chewy, Inc. (Class A Stock)*(a)
453,011   24,838,593
MercadoLibre, Inc. (Argentina)*
53,082   57,460,203
            307,751,013
IT Services — 9.4%
Adyen NV (Netherlands), 144A*
45,971   84,693,136
Mastercard, Inc. (Class A Stock)
253,583   85,754,163
PayPal Holdings, Inc.*
343,950   67,768,469
Shopify, Inc. (Canada) (Class A Stock)*
95,064   97,247,620
Twilio, Inc. (Class A Stock)*
231,544   57,212,207
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EQUITY PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of September 30, 2020 (unaudited)
      Shares   Value
Common Stocks (continued)
IT Services (cont’d.)
Visa, Inc. (Class A Stock)(a)
431,472   $86,281,456
            478,957,051
Leisure Products — 0.6%
Peloton Interactive, Inc. (Class A Stock)*(a)
293,940   29,170,606
Machinery — 1.1%
Fortive Corp.
305,977   23,318,507
Otis Worldwide Corp.
500,961   31,269,986
            54,588,493
Multi-Utilities — 0.9%
Dominion Energy, Inc.
556,566   43,929,754
Oil, Gas & Consumable Fuels — 1.4%
Chevron Corp.
597,252   43,002,144
ConocoPhillips
863,992   28,373,497
            71,375,641
Pharmaceuticals — 4.5%
AstraZeneca PLC (United Kingdom), ADR
2,253,361   123,484,183
Bristol-Myers Squibb Co.
530,038   31,955,991
Eli Lilly & Co.
482,141   71,366,511
            226,806,685
Road & Rail — 1.1%
Union Pacific Corp.
288,307   56,758,999
Semiconductors & Semiconductor Equipment — 5.1%
Broadcom, Inc.
125,299   45,648,932
NVIDIA Corp.
231,765   125,435,854
QUALCOMM, Inc.
336,718   39,624,974
Texas Instruments, Inc.
322,975   46,117,600
            256,827,360
Software — 11.8%
Adobe, Inc.*
202,033   99,083,044
Atlassian Corp. PLC (Class A Stock)*
143,546   26,095,228
Coupa Software, Inc.*
178,959   49,077,716
Microsoft Corp.
928,918   195,379,323
PTC, Inc.*
231,549   19,153,733
RingCentral, Inc. (Class A Stock)*
172,248   47,301,024
salesforce.com, Inc.*
329,538   82,819,490
SAP SE (Germany), ADR(a)
295,105   45,980,310
Trade Desk, Inc. (The) (Class A Stock)*(a)
64,059   33,232,528
            598,122,396
Specialty Retail — 3.0%
Advance Auto Parts, Inc.
118,160   18,137,560
Home Depot, Inc. (The)
180,605   50,155,814
Lowe’s Cos., Inc.
327,195   54,268,563
Ross Stores, Inc.
314,684   29,366,311
            151,928,248
      Shares   Value
Common Stocks (continued)
Technology Hardware, Storage & Peripherals — 5.9%
Apple, Inc.
2,589,420   $299,880,730
Textiles, Apparel & Luxury Goods — 3.1%
Kering SA (France)
68,338   45,347,534
Lululemon Athletica, Inc.*
169,521   55,835,132
NIKE, Inc. (Class B Stock)
457,404   57,422,498
            158,605,164
Trading Companies & Distributors — 0.6%
United Rentals, Inc.*(a)
188,976   32,976,312
 
Total Long-Term Investments

(cost $2,825,354,637)
  4,961,733,540
Short-Term Investments — 6.2%
Affiliated Mutual Funds
PGIM Core Ultra Short Bond Fund(w)
97,438,812   97,438,812
PGIM Institutional Money Market Fund

(cost $216,824,893; includes $216,777,468 of cash collateral for securities on loan)(b)(w)
217,330,374   217,286,908
 
Total Short-Term Investments

(cost $314,263,705)
  314,725,720
 
TOTAL INVESTMENTS—104.1%

(cost $3,139,618,342)
  5,276,459,260
 
Liabilities in excess of other assets — (4.1)%
  (208,709,002)
 
Net Assets — 100.0%
  $5,067,750,258
    
Below is a list of the abbreviation(s) used in the quarterly schedule of portfolio holdings:
144A Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and, pursuant to the requirements of Rule 144A, may not be resold except to qualified institutional buyers.
ADR American Depositary Receipt
REITs Real Estate Investment Trust
    
* Non-income producing security.
(a) All or a portion of security is on loan. The aggregate market value of such securities, including those sold and pending settlement, is $213,528,648; cash collateral of $216,777,468 (included in liabilities) was received with which the Portfolio purchased highly liquid short-term investments. In the event of significant appreciation in value of securities on loan on the last business day of the reporting period, the Portfolio may reflect a collateral value that is less than the market value of the loaned securities and such shortfall is remedied the following business day.
(b) Represents security, or portion thereof, purchased with cash collateral received for securities on loan and includes dividend reinvestment.
(w) PGIM Investments LLC, the manager of the Portfolio, also serves as manager of the PGIM Core Ultra Short Bond Fund and PGIM Institutional Money Market Fund.
 
Other information regarding the Portfolio is available in the Portfolio’s most recent Report to Shareholders. This information is available on the Securities and Exchange Commission’s website (www.sec.gov).
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